PepsiCo (NASDAQ:PEP) has seen its stock rally to all-time highs of around $155 per share, up about 50% from the lows of March 2020.
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The company has launched new products targeting the at-home consumption trend. Moreover, stimulus measures and the successful rollout of the vaccines have led to expectations of faster economic recovery and a rise in consumer spending, which should benefit the food and beverage giant.
However, we think that the projected growth is fully priced into PepsiCo stock. We valued the stock at about $158 per share, roughly in line with the market price.
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